Net Income Per Share

3 Months Ended

Apr. 29, 2017

Earnings Per Share, Basic [Abstract]

Net Income Per Share

Note 2 - Net Income Per Share

The following tables set forth the computation of basic and diluted earnings per share as shown on the face of the accompanying Condensed Consolidated Statements of Income:

	Thirteen Weeks Ended
	April 29, 2017						April 30, 2016
	(In thousands, except per share data)
Basic Earnings per Share:		Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount
Net income	$	8,231					$	10,661
Amount allocated to participating securities		(107	)					(213	)
Net income available for basic common shares and basic earnings per share	$	8,124		16,814	$	0.48	$	10,448		18,775	$	0.56
Diluted Earnings per Share:
Net income	$	8,231					$	10,661
Amount allocated to participating securities		(107	)					(213	)
Adjustment for dilutive potential common shares		0		4				0		5
Net income available for diluted common shares and diluted earnings per share	$	8,124		16,818	$	0.48	$	10,488		18,780	$	0.56

Our basic and diluted earnings per share are computed using the two-class method. The two-class method is an earnings allocation that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. During periods of undistributed losses, however, no effect is given to our participating securities since they do not share in the losses. Per share amounts are computed by dividing net income available to common shareholders by the weighted average shares outstanding during each period. No options to purchase shares of common stock were excluded in the computation of diluted shares for the periods presented.